Urgent Message From Rennick

[William Rennick]

Quote from riskfreetrading:

Hey Rennick Out. What is going on? Is not the market heading south? That is what I thought my post in response to your market call ( included below)

Your call is living proof that even a blind squirell can find the occasional acorn.. The Balls call was doing great until about 10:45,, did breaking news hit??? I'm staying long until I see the next "Ball" call. I bought calls at the open so I'm down just a smidge.

Rennick out

ps. Plus the Market rallied hard after you went short,,,surely triggering the stops that you emini players use

pss. BUSTED,, that was a skyhook from mid court...SWISH BABY

 

[riskfreetrading]

It did till 10:45AM. I like most of what you post Rennick, but I thought it was head fake. But you may want to be a little more fair. Good luck Rennick. Do not wait for those guys. They may follow the trend. What if it is the end?

 

[shortie]

Bill, while we are waiting for you long call to pan out why don't you tell us your story about 1987 crash?

 

[Wrongside]

More like the crash of 29. Rennick was 45 years old when that happened.

 

[shortie]

Quote from Wrongside:

More like the crash of 29. Rennick was 45 years old when that happened.

sorry for the typo, I meant 1929

 

[balda]

Don't be so hard on William. He's been honest from day one.

This is his quote from more than 2 years ago.

Quote from William Rennick:

Know the Markets direction (go to closingtrend.com), strict money management plan (read Victor Sperandio's book)and have the right attitude (Himalayan monks)


...Rennick out

http://elitetrader.com/vb/showthread.php?s=&postid=960696#post960696

 

[William Rennick]

Quote from shortie:

Bill, while we are waiting for you long call to pan out why don't you tell us your story about 1987 crash?

Well, there was this little Korean Jackass who wa...ahh what the heck,,, let me just post the link...less work..

http://www.elitetrader.com/vb/showthread.php?s=&threadid=65265&highlight=chronicles+of+rennick

It's the 4th post down

 

[MAESTRO]

I don't know about you, guys, but I made good money buying the 10 am dip and selling it on the trailing stop at 10:45. It was good to me. If you don't know how to execute good tips you should not attempt the day trading. Ultimately, any market call could be wrong if you wait enough!

 

[William Rennick]

Quote from MAESTRO:

I don't know about you, guys, but I made good money buying the 10 am dip and selling it on the trailing stop at 10:45. It was good to me. If you don't know how to execute good tips you should not attempt the day trading. Ultimately, any market call could be wrong if you wait enough!

This is a great point, and a lesson to be learned. This morning I lost my discipline and instead of selling my calls when I was up nicely, I held out and now my calls are underwater. Im going to wait for an afternoon counter-trend to unload them. BTW, the "Ball" has turned NEGATIVE, and is now calling for further WEAK market action this afternoon.

Rennick out:eek:

 

[MAESTRO]

Quote from William Rennick:

This is a great point, and a lesson to be learned. This morning I lost my discipline and instead of selling my calls when I was up nicely, I held out and now my calls are underwater. Im going to wait for an afternoon counter-trend to unload them. BTW, the "Ball" has turned NEGATIVE, and is now calling for further WEAK market action this afternoon.

Rennick out:eek:

A tip. The best trailing stop is 8% retracement from the P&L high water mark.